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tv   Markets Now  FOX Business  December 6, 2013 11:00am-1:01pm EST

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this through the new year. a selfie for your online security. one entrepreneur has an apt that uses your face to keep your precious data secured. and a $10 billion floating city, the nation all of its own. why in the heck would you want to get on one of those things if you would not even want to get on a cruise ship. a man who want to make this a reality. that and so much more coming up on this hour of "markets now." ♪ i need mcshane hereto agree with me on the cruise ship thing because it is like one big nightmare of a cruise ship. good morning, everybody. stocks finally good news on the economy means good news for stocks. nicole is on the floor of the new york stock exchange to explain it all. nicole: we are seeing something have not seen in some time, some
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big gains, green arrows. triple digit gains in the dow jones industrial. we have not had an up day where at the closing bell we had i anp arrow for the dow. since before thanksgiving, since last wednesday. it is welcome especially for the bulls, but for right now it looks like we will be snapping our winning streak we have seen. up 8 of the last straight weeks, but last friday the dow closed 16,086, so some way to go with that. some all-time highs worth noting. you are hot on these names. 1064. back to you. dagen: i'm smiling because two of my favorite people on the planet are here. two of my favorite people. here to talk about this, the newest news on employers. 243,000 jobs in november beat
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estimate by more than 20,000 people. a five year low of ninth round. labor participation rate, the number of people in the workforce looking for work up slightly. what to make of all those. global chief investment officer. you guys combined manage a trillion dollars. something thereabout. i am not picking favorites. economic strength is good news, what do you expect of how the federal reserve will react? >> looking at the numbers in the past where we have had a strong number there have been some holes in the number. i cannot find any in this number. the job growth did not rely on any one particular sector, it was very broad-based and
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importantly with the type of growth we have seen, labor force participation rate went up. i don't think they will start the tapering in december. if i am the fed, do i want to throw cold water potentially on the markets right in front of the christmas holiday because the next fomc meeting and its december 17? >> they will not do anything in december. the fed could be criticized for the badly the holiday sales didn't go well. i am not so sure they will do something in january. that will be dr. bernanke's last meeting. should be taking over in march. and so if they are going to do something, it is going to have to do something both agree on, otherwise as long as i think the chairman will defer to dr. yellen for the march meeting. dagen: you can agree or
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disagree, you're both fighting with each other. speaker that is certainly reasonable theory. it is interesting chairman bernanke has indicated he is going to go right to the bitter end. i think the fomc meeting ends on the last day of his term or within a day. so that is certainly possible. >> i think it is going to be a coin flip. january could go either way, but by march we will see something. dagen: where do you see on the yield on the 10-year? how high it will go. there is a lot of guesswork, but how much can the stock market with stand in terms of higher or longer-term rates. >> given the strength in the payroll numbers now, i think you are probably looking a bit next year 3.5%. not a very large rise in rates because the fed will keep rates
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tied closely to zero at the front end of the curve to be sure this economy is gaining traction particularly given we don't have any inflation. if anything they want to get the inflation rate up and one way to do that is by keeping the rates low. the stock market, interesting reaction today, i would have thought the market traded off with tapering going away, but what they are actually looking at is we might ask to get some real economic growth and maybe earnings and topline revenue growth would be nice for a change. >> i think bob is onto something. good news for the economy is good for stocks because the only reason the fed is going to stop qe is because the economy is doing well. bad news for the economy is good news for stocks because that means we will get more qe. stocks for the next six months are a pretty good upside.
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historically after we come off of it. like we have been through in 2013 with 25 to 30% gain in equities, the first quarter is five to 10% of appreciation because of the momentum carrying us on. we are pretty safe place here for equities for the first two quarters of next year. dagen: what are people doing with their money? particularly in terms of the fixed income fund. >> we have seen some money go out, particularly relative to stocks, what is interesting as we are still getting money in the money market fund. our taxable money market fund, a whopping 0.01%, the fund is there the all-time highs meeting people are still scared. >> we're still growing, we are
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seeing big inflows into the floating rate funds, we are committed to sticking out the cycles, so we're not having a problem with flows that the others are. dagen: i wanted to bring up something because he mentioned some of the different asset classes particularly with municipal bondsswith the ruling this past week from the judge coming out of detroit that put space it with pensions on the same line as other contractors, is that great bottom into you, great news from visible bonds potentially? >> i think it is. there are a lot of and local governments who have problems. they would use a bankruptcy process basically to nail the
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bondholders and keep the pension holders intact, and the judge in the case made it very clear he feels he has the right under the u.s. bankruptcy code to impair those pensions just like any other type of contract even if the state constitution in michigan says they cannot be paired. dagen: even with particularly your client base if you are with rising taxes, which looks like a certainty. >> to be honest with you, dagen, there are tax exempt invisible bonds that are out there that are investment-grade single-a rated that are yielding higher taxable junk bonds. the valuation on municcpal's are too cheap. i have been reallocating a significant portion of my cash to municipals because we have a lot of upside boom once we get the dust to settle.
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13.9%. dagen: last final word, of all the fixed asset income classes you like muni is the best? >> a little bit lately with the rise in rates and where the tax bracket still pretty good value. dagen: again, the weather, that is what you are paying for. >> and a lot of missing infrastructure. dagen: thank you, please come back. i don't get to see you often enough in person. you have to come back for the new year. we both had to promise me that. now onto the nasty weather speaking of sunshine to not so much, nasty weather gripping the nation. national weather service issuing wenwinter storm and ice warnings
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for much the midwest closing schools, canceling flights, disrupting travel plans of all sorts. tell me what is going on right now. >> we have a budding ice storm, very bad across texas already into arkansas. but it is moving northeast and as it gets further and further northeast the ice turns to snow and sleet and that will be the main story in the ohio valley, is, northeastern bisecting the state of new england and new york states. this is part one of a two-part punch. later tonight and tomorrow in the southland, on into the northeast tomorrow into sunday morning. and the second part comes up out of the southwest starting the ice and the snow in the dallas area again mainly ice with that. this one is probably going to lead to one of the big freezing
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rain storms in central and western virginia changing to snow in the beginning of the storm for washington, d.c., and baltimore. probably going to see more snow sunday during the day with all of last year because it was a snow hold where did not want to snow last year. it will snow with this one. further northeast, it is a mess. what you are getting basically is raining turning over to sleet and snow with the first one. the second one is snow turning over to sleet and freezing rain and rain up in the eastern part of the united states and the arctic air into the eastern part of the country next week, so it is a zoo. dagen: what about the rest of the winter, is this what we are in store for? is this what we will see question marks >> this winter has a chance for some nasty january weather. we are going to back off for a while. last week of november, dagen, we
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broke over 1000 record lows. people say well, it is over and this comes up it we will probably back off a while and to early january especially in the southland, but i think it will try to come back in january again. you see what is going on with natural gas up 15% because it is kept in the market off guard. i don't know what is going on out there. a lot of people who think the winter is over and all this stuff and later january into march it was like lawyers, guns and money. the same kind of thing seems to be happening again this year. dagen: it was great to see you. come back for the holidays. all signed up for obamacare? think again. how glitches in a system could come back to health people who think they are covered. and selfie for security.
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and new app that uses your face to protect your personal data. and one company aims to create a city at sea. how they plan to raise nearly $10 billion it is going to take. [ male announcer ] here's a question for you:
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dagen: there is a lot to love in this market. all 10 sectors in the green, but still some losers out there. what are you looking at? nicole: some names coming under pressure. take a look with jefferies cutting the price target down to 105. a drop under $23. over 20%. a tough day for shareholders if you are long this stock. they had an earnings miss, some of the endless jumping on board. some of the biggest losers here. probably want to hear that between the two companies. down 6%, down over 50% as they
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continue to work on the turnaround. played by a lot of headlines. connelldagen: it seems a banking industry may need help with customer service. lacking in customer service with an average score of 75 out of 100 points, the worst score of any industry in the united states. it is behind technology, even automotive customer service. citigroup among the lowest ranking states a score of 72. if you want to ride on the autobahn, it will cost you unless you are native to that country. germany conservative in sscial democrat parties reached an agreement to charge tolls to foreigners using the country's highways as part of a deal to form a governing coalition. more details will be released following a vote on december 12. expected to rise about a third
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of a billion dollars, $350 million in revenue for the european country. joining italy and france who already charge drivers highway tolls. and a look at how one company is helping job candidates avoid the gutter, literally. it might help save your life but not your dollars. why a healthy diet is costing consumers extra bucks every year. and see how world currencies are faring against the dollar. in today's markets, a lot can happen in a second. with fidelity's guaranteed one-second trade execution, we route your order to up to 75 market centers
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>> 22 minutes past the hour, i am arthel neville with your fox news minute. the world and south africa is mourning the death of former president nelson mandela. a memorial service will be held at a johannesburg stadium for the leader next tuesday. his body will lie in state at government buildings for december 11 until his burial december 15. mandela was 95 years old. china's financial hub suffering
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through one of the worst bouts with air pollution. schoolchildren shanghai ordered indoors and all construction was halted today. the city was shrouded in the yellow haze drastically cutting visibility ccusing flight delays. bruce lee's iconic yellow jumpsuit sold for $100,000 at an auction in hong kong. he wore it in his final movie. it went to an unidentified telephone bidder. he died in 1973 before he could finish the bill. those are your news headlines in the fox business network. i am arthel neville. back to you. dagen: were going to roll the animation and i said that doesn't work. dagen: we must talk to each other. dagen: now i get to say i hope you have an awesome weekend. >> you do the same. dagen: tow tie to make money wih charles payne.
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we're going to talk about the very fun state of texas. charles: the economy is getting better. you cannot dispute that. jobs numbers assigned a job but we are not seeing it today. but all the big losers, big lots, list almost goes on and on. one of these companies that should be doing very well. the bottom line is that around this country there is a lack of confidence. people have not taken the bait. people do not believe enough to really get the virtuous cycle ben bernanke has been trying for. the bottom line is all we have to do is take a page from texas. yesterday a company reported to earnings, the stock was up 20%. they were founded in the 1890s, only in five states dominantly a texas story. up 20% in one day. 93% sales remain on credit.
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in this country the last three months credit card use has gone down, the debt has gone down three consecutive months. so why are people spending money, using credit, i tell you, up 22% same-store sales, furniture sales up 55% same-store. electronics up 26%, office up 37%. they have figured it out. dagen: what are you saying about people in texas being happier than people in other parts of the country? >> no taxes on the social security. one of these places the focus has been on making a great economy for everybody, it is not sort of this weird manipulation of economic recovery were somehow a try to make the people who own the business don't benefit the people who just started yesterday reap the
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rewards. you cannot undo capitalism and put it back this way. dagen: i am not believing you want people to borrow money. charles: borrowing too much money got us in trouble. i have a mortgage. our win some money not bad. people spending beyond their means is one thing, or listen, somebody by $300,000 house and they drove a ford $100,000 house, that is what got us in trouble. 4 million people, publish increased 4 million, a million of them came from california and other high tax system. dagen: a lot of that is the oil. charles: it is not just about energy. 160,000 employees, guess what is moved this week, texas.
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$115,000 as a grant. it is not like pay up, we are throwing out cash. you know why? they want to have an economic backdrop. it is a fortune 500 company. i will see you saturday morning, i screamed as charlie last week. he called me sir on the show, see never know what you will see on that show. thank you very much. he battled the website, you think you enrolled in coverage, well, did you? there are words the glitches could come back to bite people when they think they have insurance. and selfie aren't just for people completely self obsessed. one company using her face to keep your private information
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private. and there are a lot of winners today. i take prilosec otc each morning for my frequent heartburn.
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because you can't beat zero heartburn. woo hoo! [ male announcer ] prilosec otc is the number one doctor recommended frequent heartburn medicine for 8 straight years. one pill each morning. 24 hours. zero heartburn. cheryl: we are so excited we are just talking and didn't know we were back on live tv. here's what is coming up on markets now. the obama care woes continued by those who think they are signed up for insurance, could be in for a rude awakening. different employment strike,
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bowling is helping unemployed executives find jobs. would you lose -- lived on a city at see? company trying to raise billions of dollars to make that plan happen. breaking news, barnes and noble disclosing the securities and exchange commission is investigating its accounting practices. nicole petallides on the floor of the stock exchange with more. nicole: this is the headline that moves this stock around. you are investigated by the sec, enough to have a significant drop for barnes and noble. you can see stock dropped dramatically down 6% to the lowest level toddy, it has since come back and now down 1583 so is down 3.5%. the filing yesterday they did disclose the sec, after the close yesterday, is investigating the restatement of the announced earnings back in puly.
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the company is cooperating with the sec providing documents being requested. in the meantime they have been struggling and the the reader is a challenge for them. the about dust collected 50 shades of gray trilogy, that would help the book store. dagen: thank you. problems will remain with health care.gov's enrollment process. consumers facing a dec. 20 third final deadline for plans that will go into effect the first of the year. the biggest scare in store for people think they have insurance, think they signed up but maybe not. matt welch is editor-in-chief of reason magazine, co-host of the independent. this show premieres monday night on the fox business network, on at 9:00, can't wait for that. is this speculation that people might not have their insurance when they think they did sign
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up? >> it is definitely going to happen. right now estimating and extrapolating from state exchanges, 20% of people who enrolled actually have insurance. that is how you make a first payment and other things happen like that and even then on the back end washington post and articles that one of three people who have signed up and think they have insurance there is a grievous error in the system, that will take a while to work its way through the system. people will go to the doctor thinking they are covered by our not. dagen: will fall on the white house, on washington to fix it at least temporarily. >> there will be a mixture of companies saying we will bite the bullet and take one and the government engaging in another series of band-aids and temporary bailout, this whole thing is jury rigged. there will be a new catastrophe every month for the next three months, the next three years. they will find the temporary fix
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but it will be inadequate. dagen: you say three years but could go on forever because historically that could be the way of government, you don't go back and rework abroad parts of the law or rework the law altogether, you are constantly sticking your finger in the jam. >> government reform is like trying to fix the previous year's mistakes, the difference is it is unpopular, that has to express itself politically some held. republicans will be running against the law in 2014, probably making gains because of that but only running against, they want to repeal but not ready to coalesce around replays, and until they are we y i have said repeatedly on the show the problem we have seen and people experience are only related to the individual insurance market. we have as yet to begin to feel the impact and the on the employer pays to insurance. >> if you think about the
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various waves about rage the first one if you like your plan you can keep it, the biggest one might be that obama has repeatedly said this lot is going to save american families on average up to $2,500 bet people thinking they will save money on going to get that sticker shock, people with employer based plans like me or like you are going to see that some time in the next week to months and will be pretty ugly. many people will lose their insurance or exchange their provider to someone they don't like. dagen: you are already seeing that part-time, you use to get insurance your employer and you'll get kicked off and have to buy on your own, that is one possible scenario. >> so many people will have their basic situation changed for the west. some will have a change for the better and some will have a change in a won't nowak is for the betterment of the subsidies kick in, it is so complicated but we are safe in assuming you will be a negative experience for a lot of people who haven't
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yet had a negative experience. dagen: great to see you and you can watch matt starting monday night every night on the fox business network. i you ready for it? 9:00 monday night, and -- connell: stossel -- dagen: i was reading the promo wrong. are you ready? connell: you will be sleeping because you have to get up early in the morning. dagen: all right, thank you so much. if you do any grocery shopping at whole foods this won't come as a surprise. harvard researchers found a healthy diet cost $1.50 more per day that an unhealthy one, that works out to $550 per year. that just doesn't sound -- come on, that cup of coffee cost more
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than that. diets rich in produce cost more than diet rich in processed foods, refined greens and meet. full foods, above nicely this year but that is not up as much as the market so there you go. the study notes spending $1.50 more everyday's cheaper than a rmers' e of medical bills. market out stocks we want to show you right here right now. coming up, to keep your data safe, and guests has an apps that does that. $10 billion, trying to raise that money to make the world's first floating city. you have cruise ships, why would you go on that? finding executive level jobs proving to be harder than ever. jeff flock is at a bowling alley, dedicate to helping people nail down the big one.
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take a look at treasuries today, ten year yields. how crazy is this? the jobs report, triple digit gain on the dow and the yield on the ten year fall. we love it. hi honey, did you get e toaster cozy? yep. got all the cozies. [ grandma ] with n fedex one rate, i could ll a box and ship it r one flat rate. so i kn untilt was full. you'd be crazy not to. is tt nana? [ male announcer ] fedex one rate. simple, flat rate shipping with the reliability of fedex.
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december to a meeting of 82 boeing 5, highest readings for the index since july, up for the final november number of 75.1. consumers's outlook on the economy and job prospects have improved. retailers will lose $3.4 billion in return throughout the holiday season meaning return of sold or used merchandise. national retail federation survey of loss prevention executives at 62 retailers expect 5.8% of holiday returns to be fraudulent, 4.6% last year. personal spending rose by 0.3% in october despite the partial government shutdown. tte estimate was for an increase of 0.2. personal income fell by 0.1%. expectation was to rise by 0.3%. that is latest from the fox business network giving you the power to prosper.
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just by talking to a helmet. it grabbed the patient's record before we even picked himp. it found out the doctor we needed was at st. anne's. wiggle your toes. [ driver ] and it got his okay on treatment from miles away. it even pulled strings with the stoplights. my amlance talks with smoke alarms and pilots and adiums. but, of course, 's a good listener too [ female announcer ] today cisco is connecting the internet of everything. so everything works like never before. dagen: tomorrow's business today.
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we are so self obsessed, facebook, instagram and twitter, popping up in the world of security. jeremy rose has created an apps, the iphone and ipad that uses your face to keep your precious data secure. it is called faceequipped. tell us all about it. sounds awesome but how does it work? >> basically it is the bar metric and it will recognize you and it is not you it will not recognize you. that is the key method to get into the application. dagen: within the application not having used it does its tour your password in the application? how does it work with all your secure data? >> this is -- you can score all your old passwords, and documents and pictures, anything
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you want to keep secret, i have this idea because i was storing most pass words in a spreadsheet and if someone got ahold of that spread sheet, basically that is not very secure because they had access to the password managing for the sun. and in the market, the password to get in, that is crazy. because i had a history in biometric systems, and i thought why not develop facial recognition system to get access to your password. dagen: on the new iphone i have the newest version, you have the fingerprints can to open the phone to lock it but you can also use your finger print to make purchases on itunes, use that as your identification which is great. what about you working with
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third parties to basically connect this biometric technology and this apps directly to applications you use? your face would be your password. >> that is right. you would want to use your face for less secure systems you want to gain access to. the drive now is to use a face and perhaps even a pass word itself so that you are not dependent on your face. nobody -- it is so right to get to the absolute secure information and that is too dangerous but facial recognition in itself is handy to get to your application quickly but for some sites you want to get into you want to look down with additional access method as well which is what we specialize in. dagen: great to talk to you.
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terrific apps. most people on staff have downloaded it so thank you, please come back. be well. stocks rallying after strong jobs report so traders shaking off those federal reserve years, jonathan cortines standing by with more on in an unusual day. really good jobs report. supersolid and bonds with the ten year yield is down a little bit. >> you see the correlation between the ten year and equity market but shows us how confused this market is. go back earlier in the weekly had good economic data, good headlines and the market has slowed down or progression on fears of what good news means to the market, that it will come sooner rather than later but today now of that today the fundamentals come in to play of true investing good news is good news and this will be a progression we will see the rest
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of the year. the that great to see you, meridian equity partners. the unemployment rate might be at a five year low but a new report suggests getting a job that an executive level might be harder than ever. jeff flock is at a bowling alley in buffalo grove, ill. to explain. jeff: in brunswick. bowling in billiards, right there and these cars over there. the managing director, top executive. take a look at the numbers before we kick it off. overall the job market, people took all logger to find a job this month although somewhat better than it had been earlier in the year. why is it tougher for executives? they are taking longer. >> much longer.
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we are finding 40 or 50-year-old executives do quite well. executives take longer, about a month. >> you are a success story. the director for mcdonald's for 12 years, change jobs, happened fairly quickly. >> from the moment i started thinking about it until the time i started my new job in brunswick was about seven months. >> i want to look at some numbers. what we are talking about, networking is the biggest thing. >> 56% of jobs we found through networking, not only traditional networking but things like social media, linkedin, 10% or 20% of the job. >> last time you looked for a job was 12 years ago.
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we were printing a printed resumes. you mentioned linkedin. that is how i started drillingin. >> bring these job numbers to life for you. brunswick doing pretty well, stock is up 71% in the last year. boeing is profitable. that is the way it goes. dagen: i don't believe that. i would go bowling with you any day. love some bowling. good bowling alleys in new york city. twenty-second, on the weekend. great to see you. get your sea legs ready, not your bowling legs. the company is raising funds to not only build the world's largest ship but the first city on high seas. as we head to break take a look
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dagen: traveling the world from the comfort of your home, freedomship international is trying to raise $10 billion to begin construction on a world's first floating city. joining us is roger induce, the director. first and foremost, it just sounds like science fiction. is this an achievable goal in terms of raising the money and
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executing the plan? >> we are biased but we certainly believe so. logistically it is the mega maritime project, heavily capitalized project, the engineering is fair and assuming there's enough general interest, globally it is a doable project and we will continue and pursuing them and trying to bring it to fruition. dagen: how much money have you raised? >> negligible dollars. we went public a week ago and truthfully the global response has been overwhelming. not so much at this point in time relative to capital but as far as interests, people wanting to buy units on the ship or work on the ship, the global interest has been we are inundated in e-mail on our server. dagen: it is a share, not a floating island that will be stationary? >> no.
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it has propulsion, a mobile superplatform, analogous to a small land based community of 50 to 1,000 people, circumnavigating the globe. there are number of notable engineering firms that have the ability and logistically assuming the capital can be raised to pick it misconstruction. we are part of an older team the worked on this project 15 years ago under the direction of norman bendixen, creator of the concept. he was an engineer and this year passed away so and number of us from the old team have decided to see if the global economy is turning. we feel there is more confidence that might bring out venture-capital that was not available in the past few years and that inspired us to go ahead with the project.
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dagen: keep us posted how it goes. thank you so much. >> have a good day. dagen: federal reserve might fear with fear. will ten year yield down, stocks up triple digits because of the great jobs report. good news is finally good news for stocks. the panel coming up with dennis and cheryl to break down in the next hour of markets now. small-business in boston looking to help victims of the boston marathon bombing a, details of this heartwarming mission coming up. impact wool exports from new zealand, textile production in ain, technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 70% of our tual funds beat their0-year lipper average t. rowe price. invest with confidence. with investment information, risks, fees and expenses to read and consider carefully before investing.
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>> two months ago it was 7.2, this month is 7.0. you see the economy goes through the shutdown and bring it over the debt limit. one of the reasons by the way is the fact that health costs are
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growing slowest they have in the last 50 years, helping employers adding jobs and one reason we're seeing distress in the private sector. cheryl: the white house taking a victory lap. the council of economic advisers at to beating better jobs number to obamacare. i am cheryl casone with dennis kneale to take you through the next hour of markets now. more jobs added in november than expected and the good news is boosting the markets despite the capering, all-star panel to break down, very interesting point about the taker. dangerous ice storms sweeping the country. we will tell you where that storm is headed next. a heartwarming story of charity by one small business looking to help victims of the boston marathon bombing. that and more in a busy hour of my kids now.
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we have a business that is doing the opposite in boston. dennis: i am happy the dow is up 157 and the weird thing is i thought the markets would go down on such a good job news. cheryl: the back of my mind, the last five days we had down days. maybe we thought we would have a good jobs picture and they were getting ready for it now. dennis: some expect better than expected numbers for the jobs report and we look at that, peter barnes joins us from the white house. >> i am standing in this torrential downpour to say something about how is raining jobs but i will not. non-farm payrolls coming in at 203,000 jobs for november, better than expected. the consensus estimate was
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180,000 new payroll jobs in november. the unemployment rate was the big story. infills 7%, a much bigger decline than expected. it was down from 7.3 in october to 7.2 but a lot of this was driven by federal workers coming back to work after they were furloughed in the government shut down in october and 7% unemployment rate is the lowest in five years so the white house is happy about that but the rate coming down not just because of federal workers coming back but also more people said they were employed so the white house, the president's top economist calling this a strong report but still not good enough but as a result congress and particularly republicans in congress should consider the president's economic proposal. >> we want to work together with republicans on ways to speed the
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recovery and increase long-term growth, things like business, investing in infrastructure, training and making sure we are taking care of business like extending unemployment insurance benefits and raising the minimum wage. >> john boehner firing back, today's reporting colludes positive signs that should discourage calls for more emergency government stimulus. instead what our economy needs is more pro-growth solutions that get government out of the way. dagen: let's see the jobs numbers, how these jobs numbers are affecting the market. nicole petallides, this is the question. is trader reaction, make dennis made a great point, the shock we're seeing such a big rally today when we know it is close to the number.
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>> some of the traders i have been speaking with about triple digit gains throughout the morning and whether that would be sustained through the closing bell and most of the traders i spoke with said we have been selling off since thanksgiving, last update was wednesday prior to thanksgiving so there's room to the upside despite the fact that everyone is looking to the fed and capering and focusing on the good news ultimately handle little bit of a bounceback, so we are up 150 points, no back-and-forth action like we have been seeing and 2.6%, the vix taking a break totally, after days of gains and gold going back and forth, positive and negative. dennis: for more on the big november jobs report let's bring in our expert panel, chief economist, recruitment firm dice holding ceo mike tierney and director of investment ted
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harris. thank you for joining us. let's start with you. it seems to me the markets are up despite a really good jobs number. goldman sachs saying the jobs number not good enough to force capering by december. data markets up because the jobs market isn't that good? >> catering will happen by the end of the first quarter. what is at work is a sense among market participants that when the fed begins to taper treasury bond yields are not going to go through the roof. one thing that hasn't been mentioned much this morning is we got a report on the price index for october. that was higher by 0.7% year over year.
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ratchet down inflation expectations, that will necessarily limit the upside for treasury bond yield. cheryl: the fed said this is the data dependent strategy, and you yourself said going into the new support of the research know anything about $200,000 is the icing on the cake meaning a december hagar. what is the likelihood now that he had seen 203? >> i don't finca they will taper in december. cheryl: we lost teddy's camera. >> a lot of people are excited about 200,000 but it is not that big a number. surprise about the expectations. is not enough to sustain the economy too long. we need more growth in terms of number of jobs. dennis: you are with moody's. i remember dire predictions that a single, one week shutdown in the government was going to
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reduce gdp growth by -- a single weekenddwe heard sequester cuts were going to hurt and then we have this good economic news. was he entirely wrong and a little panic? >> what we find out, this is a very resilient economy and that is very important and tells us is not critically important that we extend emergency unemployment benefits and have these special programs. that is one of the take aways we are getting from the better than expected showing. cheryl: let's look at something with mike. you look at the different sectors that hiring, the types of jobs in your survey for hiring managers, you actually found 55% of companies plan to hire more professionals next year, 2014. the company is telling you that. and this morning the private sector did all the hiring. >> business professional services for months have been leading the charge but we do that survey twice a year.
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55% say it was 46% same time last year so significant increase in expectations by our customers and direct hiring companies looking forward to recruiting more people. dennis: what is your view on whether the government needs to extend federal unemployment benefits 99 weeks? national bureau of economic research came out with a study saying the extended payment is the biggest reason unemployment stayed high long-term. >> probably true but what happens is once employers start employing people you get more turnover. the real thing that happened this increase in turnover. we are getting turnover over the historic average because it creates velocity of change. cheryl: one thing as an economist you will be watching, fed president lockhart said yesterday and before today is that we can't addrees the caper question in the december meeting but quite confident that these
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numbers are real and that is what markets are looking at, when the tape is going to happen. >> the progress on the labour front is very real. talking about more turnover in the labour market, we had a jump, a positive sign for the labour market in the month of november. you don't -- there is concern. even though we had the strongest pace for auto sales in november since february of 2007, we find this was at the price of discounting promotions that auto companies had to resort to to move metal. moreover the inventories in the auto industry are not so great the we have production schedules, manufacturing, not going to do that. cheryl: if you look at other data besides this report today, consumer spending went down, in comes personal income, flat.
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the revisions where 8,000. it screams to me, help the economy. >> we have a million fewer jobs today than we did in january of 2008. the number of officially unemployed americans is higher by roughly four million compared to the end of 2007. this remains a slack labour market and that will put downward pressure on wages. >> it feels better because it year.igher than earlier this >> if we believe goldman sachs that this number is not good enough to make fed paper in december that is -- could it be another trade, wall street seeing these numbers is a sign that go ahead and caper, i don't care. we are getting stronger and we will be ok? >> that is possible but if the numbers get higher and the turnover number is getting higher which it has been the last couple months what you will see is what we referred to as velocity of change.
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there's a possibility that the employment environment is getting better cheryl: voluntary departures have increased. >> you have this pent-up demand. they're willing to take more risk. cheryl: we want to thank teddy. we lost his camera. we have to get him back soon. degrees in california may have been shelling out more for oranges and other citrus fruit and the contract after day. dennis: you can drive fast on the audubon if you are not stuck in traffic but it will cost more if you are not german. details coming. first, take a look at energy.
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cheryl: we are -- 15,000, 1968 right now. one stock i am watching, belling, interesting news that of the seattle times, a shreveport, private report shows boeing telling 15 states that a trying to get the project, basically saying you have to come in at low cost, confidential document that each this could be 8500 direct jobs in the state did takes on the triple 7 manufacturing production facility when it goes to the 007, a big win for any state, washington state has labor issues and union fight with boeing's workers may derail their plans in washington. cheryl: visa is in the red and let's bring in nicole petallides, the big market
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rally, you are watching barnes and noble. nicole: i am keeping an eye on barnes and noble because it had some back-and-forth action on headlines pertaining to the sec, you see a volatile day at 1460, it recouped those losses, challenging the level once again down nearly 6% on the headline that after disclosing yesterday in that filing that they are going to be working with the sec which is investigating the restatement of the earnings announced back in belie and they are reportedly working, cooperating documents and barnes and noble, not acknowledging why they are being investigated but in the meantime this is happening and you are watching stocks under significant pressure. the big pressure over the quarterly drop in revenue, challenge with books that we know and be books is another
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challenging area for bonds and noble. not making a comparison. cheryl: e readers. antaeus and be after them. thank you very much. dennis: if you want to ride on the audubon it will cost you unless you are a local. conservative and social democratic parties reaching and agreement to charge tolls but only the foreigners using highways as part of the deal they want to form we will see whether they start trying to charge higher toll-free germans. cheryl: a heartwarming story of charity by one small business looking to help the victims of the boston marathon bombing. dennis: a good day if you onlyin
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>> 22 minutes past the hour your fox news minute. president obbma and the first lady will travel to south africa to pay their respects to that nation's former president nelson mandela and died yesterday at the age of 95 jim memorial service will be held next tuesday. he will be buried on december 15th. secretary of state john kerry closed another middle east mission today urging israel and the palestinians to follow nelson mandela's lead and make sense. he wants to bring the two sides to a negotiated accord and set a nine month deadline when talks begin in july. both sides are pessimistic about the outcome. sports now, free agent second
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baseman robinson cano will be making the pacific northwest his next home. reportedly signed a ten year deal with the seattle mariners for $240 million. his former team, the new york yankees was unwilling to offer more than 7 years at 1 seventy million. those are your news headlines on the fox business network. dennis: the dow up triple digits and charles payne is here to tell us how he is making money, revisiting linkedin. rumors of a launch a broad causing the stock to be upgraded. where will this go? charles: $300 stock. yesterday at a night session, broke above the 50 day moving average of. a lot of people coming back into the name. a lot of momentum names the last month have been shaky, volatile, down a little bit. this stands on its own because it is a money maker and they have an amazing business model.
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i know you -- dennis: i wonder if stock benefits because i got to put money some place. dennis: but it is making an incredible amount of money. the growth rate is a huge. wall street thinks the company will grow 59% every year for the next five years and that does get to the bottom line. in the meantime they have beaten the street, a year ago they beat 500%, 45%, wall street is like catching up to how great the company is. the jobs numbers today, you saw construction up, one sector that was up was proportional businesses, that is their bread-and-butter. i will say it is expensive, it turns awful lot of purists but other than that it is the juggernaut that is not pie in
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the sky. cheryl: how do they make money? just by advertising? charles: subscription services, they have their own individual business models of is not an ad dependent product only. people, professionals using linkedin. cheryl: if you look at the unemployment rate for technology 3-.3%. dennis: charles: the beige book a couple days ago, in boston they are doing programs to bring people in from overseas. they had a shortage of quality labor. dennis: do you know what percentage is paying and where they want to take it? charles: i am not sure the percentage but i can get that for you. the guidance from the company looks like it will continue to grow tremendously. obviously high expectations brings its own risks and rewards. cheryl: so many winners and so
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many losers. fighting the freeze. california farmers working around the clock to keep the $2 billion citrus industry from being iced, literally. dennis: it may be good for you but not your wallet. eating healthy diet is tugging on consumers's purse strings. first a look at the s&p winners and losers. every day we're working to be an even better company -
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and to keep our commitments. eveand we've made a big to be commitment to america. - bp supports nearly 250,000 jobs here. through all of our energy operations, we invest more in thu.s. than any other place in the world. in fact, we've invested over $55 billion here in the last five years - making bp america's largest energy investor. our commitment has never been stronger.
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dennis: new details on new bank rates that could affect your 401(k). newcomers and scott garrett here to weigh in. and i storms hitting the country.
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and the cost of eating healthy coming up. stocks down every 15 minutes. nicole petallides. i am loving this, an update after a five-day slide. nicole: everybody had their turkey, and all they saw was down arrows. last friday and every day this week we had today up arrows, dow up 150 points. look at all time record highs. google, dollar general, we are seeing some the railroads doing well. movers worth discussing, intel, intel has been a leader up over 2%. we continue to watch sears planning to break off. upgraded now five th below, and american eagle to retailers seeing tough times ahead. dennis: all right, thank you,
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nicole. cheryl: fox news, new documents uncovered by congressional panel show the obama administration knew about the need to delay the healthiest changes as early as august despite waiting until the day before thanksgiving to do so. rich edson with more on this breaking story. rich: this is another example of the administration to the online exchanges needed more time while officials kept promising the system would be up and running by october 1. the time the creation of the shop exchange where small businesses can buy insurance for their workers. in august and official presenters of medicare and medicaid services wrote i have been unable to get cgi to commit to having employee application ready for day one. the federal contractors propose pushing back the date writing per our conversation we came up with a planned rollout schedule for november 15 employee portal goes live.
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six weeks later than first promise. debbie chief information officer replied can we sign this with blood? the contract replied whose? the exchange will now be ready next november. the subcommittee chairman says as president obama embarks on his latest pr push to salvage signature legislation, where find more evidence administration was painfully aware the work would not be complete by october 1. we have just issued a response to all of this. officials say these e-mails are simply between a small group of workers, not those who eventually decide to delay the exchange. officials made the final decision in mid-september. back to you. cheryl: we will see what the white house has to say about this latest scandal. dennis, over to you. dennis: republican from new jersey here with me on that, can you tell us what was your take on what you just heard the obama administration laid back
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in august to not pay anything for months. >> not surprising to me and the american public. the majority of americans right now do not have faith or trust in this administration. most think incompetence by the white house or the white house deceiving them. after this report little mix of both of those. dennis: let's move on to the volcker rule. a couple of things raising concerns. the volcker rule can stop banks because they're so interested interested in stopping them for their own accounts even though they did not cause the meltdown. unable to hedge other risks that the client takes. >> you go back to the beginning of this whole issue of trying to move volcker along was a solution in search of a problem, right? when you ask the people asked the secretary what are the rules going to be like this we coming
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out right now, what was his one-word answer? it is going to be tough. he did not say they would be fair or judge, that they would be appropriate, did not say they would address the problem or solve a problem and did not say they would not cause other problems like you are suggesting, they are simply going to be tough. dennis: is the volcker rule meme famed imac and a fixing problems that went wrong or smacking and punishing? >> that is the second portion of the statement, he is actually trying to implement the president's vision. we know the president's vision has been of the financial services industry and wall street and big banks, they are evil, they are bad. not just the big guys around us back here, but the small guys be impacted by this as well. dennis: at her the tiniest firms the most and a big part of their growth. this latest requirement the ceo
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signature should be required. i remember they require that during the sarbanes-oxley thing that had nothing to do with stopping the next meltdown. >> really, took three years to come up with that proposal? what does that really do? they are saying we really can decide between what proprietary is in the market-making, so we went to kick it over to the ceos of these companies and they want to have to scratch their heads and decide to do or not do. dennis: undercounting teen tells everything is all right, you will not investigate yourself, you will just sign what you're told to sign. i would swear that was passed with bipartisan support and plenty of republicans who love smacking the banks around and cracking down on proprietary trading that did not cause the meltdown. aren't you guilty?
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>> i don't remember it that way. this was not part of the original legislation as it passed out of the house all democratic support. this was all part of a democrat push to try to address a problem that doesn't exist with a solution that isn't the right one. dennis: paul volcker commented i don't like it, but there it is. >> and there the problem will be for all americans and businesses as well. dennis: no move afoot to try to change this? >> they have not listened to us. all these changes we will try to see, it probably will not come to a change in the white house and a change in the senate. dennis: we appreciate you being with us, of new jersey.
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cheryl: time for your west coast meant. the citrus industry is fighting the freeze, literally. a crucial piece of the economy working around the clock to protect lemon orange tangerine and grapefruit crop the end in january they lost their crop due to similar freeze. las vegas has some of the top hotels. steve wen wynn encore came in bd hawaiian at the mgm grand connect number 11. the survey also rated vegas fifth among the top 20 destinations in the world. take a look at these stocks, they have been on a tear, mgm and when casino for the upside. and visiting the drone american plant to see for himself with the company and the state both want. dominance in the drone manufacturing industry.
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the data helps you one of federal states selected to test the commercial use of drones. the faa is going to have to pick those sites. that is your "west coast minute." dennis: the storm that has already had its way in the midwest looking to make trouble on the east coast. cheryl: a heartwarming story of charity. one small business looking to help victims of the boston marathon bombing. you're going to love it. take a look at the 10-year treasury, it has been a big week for the treasury market. lots of volatility. the yield 2.68% down one basis point. be right back. [ male announcer ] here's a question for you:
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if every u.s. home replaced one light bulb with a compact fluorescent bulb, the energy saved could light how many homes? 1 million? 2 million? 3 million? the answer is. 3 million homes. by 2030, investments in energy efficiency could help americans save $300 billion each year. take the energy quiz. energy lives here. ♪ nothing, that's what? that's why i take prilosec otc each morning for my frequent heartburn. 'cause it gives me a big fat zero heartburn. woo hoo!
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[ male announcer ] prilosec otc. the number one doctor recommended frequent heartburn medicine for 8 straight years. [ larry ] you can't beat zero heartburn. and best of all, it means i can enjoy all the foods i love. oh, zero heartburn is awesome. just like zero clery. ♪ [ male announcer ] ilosec otc. one pill each morning. 24 hours. zero heartburn. >> i am ashley webster with your fox business brief. personal spending rising by three tenths of a percent in october despite the partial government shutdown. the estimate was for an increase of two tenths. personal income falling, the expectation there was for it to rise by three tenths. retailers expecting to lose an estimated $3.4 billion in return fraud this holiday season meaning return of stolen or used merchandise. a survey finding the retailers expect 5.8% of holiday returns
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to be fraudulent, up from 4.6% last year. consumer sentiment jumping to a prim a reading of 82.5, the highest rating in six months. also up from the final november reading of 75.1. the survey found consumer's outlook on the economy and job prospects improve. that is the latest from the fox business network, giving you the power to prosper.
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cheryl: now to the nasty weather. national weather service issuing ice warnings the midwest causing travel disruptions, school cancellations for thousands and this storm is not over. live in the fo fox weather centr with more details. where is it now? >> it is everywhere. the cold air is almost the entire country and it is not going to change anytime soon. take a look at the windchill right now. minus 23 it feels like in sioux falls. minus 40, minus 39.
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the cold air is insanely cold and dangerous. but it is also fairly far-reaching. today's high in dallas 30. down in l.a., 57, 54 in phoenix. temperatures have been at the freezing mark toward phoenix and a lot of these areas agricultural areas of the southwest big impacts for them because the overnight temperatures have been well below freezing causing big problems. saturday 29 in dallas. up to six on sunday, 39 in dallas and you drop again for monday, tuesday finally a bit of a relief, florida is the only spot in the country that is not impacted by this. freezing rain from little rock through louisville into cincinnati, snow on the north side of it, rain below it but the freezing rain the big problem of it. that is where we see the biggest
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power outages and still another eight hours or so of this with an additional icing, more power outages continue. it pulls off throughout the northeast, throughout the day today and tonight. the cold air stays in place tomorrow and then a new storm starts to form across parts of the west. snow across the plains. and look at this exact same area sunday another ice storm right behind this. mother storm to deal with, we are not out of this by any means. cheryl: hitting the midwest again? >> coming saturday into sunday. cheryl: thank you. dennis: the cold and icy weather giving energy and natural gas in particular a boost. phil flynn. phil: we had a six month high on natural gas and a lot of this is because this storm is already shutting in production. this is a nightmare for natural gas and oil producers because what happens when you get the
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icy roads, ice and water on the pipeline meters, they get frozen shut, production can be shut down. what is worse is you can't get the pipelines to fix them. to get the person down on the ground to fix them is almost impossible. the market is easing off a little bit right now. we hit a 10 month high because there is hope there will be warmer temperatures down the road. for right now natural gas has broken up the highest level in six months. we had some other breaking news from the energy information administration about natural gas. september number just came out on u.s. natural gas production and it actually fell for the first time in six months, a big drop, another reason why we saw a big drawdown yesterday. back to you. dennis: thank you very much, phil flynn. cheryl: a feel-good story for
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you right now. luxury travel taking 114 boston marathon bombing victims and first responders on all expenses paid cruise to the south of france. the largest gathering of victims since the tragic bombings in april. thank you for being on this show. where did you get the idea for this? >> started a year ago, and we started working with the u.s. veterans, families, offering the families a trip to travel advantage. looking at the boston bombing and being a boston-based company, we tried to figure out how we could give back, how we could help. that is how it came about.
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cheryl: this is going to cost you almost 400 grand. you are a small luxury travel company. you are working with one man, he was someone who lost i believe his son in iraq. next thing you see him on tv during the live coverage of the bombing, is that correct? >> that is correct. being a family member, losing his son. he will be traveling with us on this coming up in a few days. he is very close to the family. pretty amazing to watch him on tv, quite spectacular person. cheryl: a nurse at the er at mass general that day, one of the friends came in who was injured in the attack, is that also correct? >> yes, we will be traveling with many people that were
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spectators, victims of the bombing, first responders. they will all be traveling. cheryl: the trip itself is what your company does, suite 114 people, leaving december 11, a seven-day cruise, you are going all beautiful areas, this is going to be one classy trip, how excited are these guys and girls about going on a trip with you? >> very excited. for some of them the first time out of the country, it is going to be quite an experience they beautiful trip you get to see a lot of historical factors, beautiful countryside's so all around it is going to be an unbelievable experience.
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cheryl: how are you going to top this? he must have more coming down the pike because you are great at this. >> we just had to continue on this road to get back, we just have to continue to give back to them through travel. cheryl: people are so critical of businesses that they are greedy, so great to see a business like yours giving back like this. thank you very much. >> thank you. dennis: in your friday media minute, time warner cable, the stock down a little bit, but it popped up 5% late yesterday on a new report, and it is this guy, number two and the next ceo says he is a perfect guide to negotiate right now all but putting them up for sale. obstacles abound, saying no way with the obama folks number one
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comcast, so think charter communications or cablevision or cox. and, arts and culture, how much are they worth to the u.s. economy? half a trillion dollars, arts and cultural production, 504 ilion dollars in 2011, u.s. travel and tourism only 2.8%. adding tangibles to that growing $916 billion in total gross output. advertising top category 200 billion, cable tv third, $83 billion of economic activity. that is a great report you did with the boston agency. if i lived in boston, i would use a travel agency rather than somebody else. cheryl: have done so much with building for heroes.
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we have to do so much more. what is shrinking your waistline is also shrinking your wallet. dennis: take a look at the winners on the nasdaq. [ male announcer ] what if a small company became big business overnight? ♪ like, really big... then expanded? ♪ or their new product tanked? ♪ or not? what if they embrace new technology instead? ♪ imagine a company's future with the future of trading. company profile. a research tool on thinkorswim. from td ameritrade.
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dennis: we all should eat more healthily. the question is whether we can afford it. harvard researchers find a healthy diet cause $1.50 more per day than an unhealthy one.
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diets rich in produce, fruits, veggies, fish cost more than diets rich in processed foods like refined grains, no surprise whole foods up 22% year-over-year on the profit margins. spending $1.50 more every day. a lot cheaper than lifetime medical bills. whole foods, sprouts. cheryl: wants to give a programming note. on monday the world's largest airline will be created. american airlines group, commendation of american airlines and u.s. airways is happening. i will be speaking live with the head of the new company how he sold this merger in his battle with the justice department. talking about unions, don't miss that interview monday 12:30 p.m. eastern. dennis: the dow on track to snap five straight days of losses.
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is it enough for the fed to start tapering? gerard says no. cheryl: online retailer seeing huge steps for home furnishings over the thanksgiving weekend. joining myself and adam shapiro straightahead as part of the your wish list series on "markets now." stay with us. . [ grandma ] with n fedex one rate, i could ll a box and ship it r one flat rate. so i kn untilt was full. you'd be crazy not to. is tt nana? [ male announcer ] fedex one rate. simple, flat rate shipping with the reliability of fedex.
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i' always tried to give it my best shot. these days i'm living with a higher risk of stroke due to afib, a type of irregular heartbeat, not caused by a heart valve problem. at first, i took warfarin, but i wondered, "could i up my game?" my doctor told me about eliquis. and three important asons to take eliquis instead. one, in a clinical trial, eliquis was proven to reduce the risk of stroke better than warfarin. two, eliquis had less major bleeding than warfarin. and three... unlike warfarin, there's no routine blood testing. [ male announcer ] don't stop taking eliquis unless your doctor tells you to, as stopping increases your risk of having a stroke. eliquis can cause serious and in rare cases fatal bleeding. don't take eliquis ifyou have an artificial heart valve abnormal bleing. while taking eliquis, yomay bruise more easily and it m take longer than usual for any bleeding to stop. seek immediate medical care for sudden signs of bleeding, like unusual bruising. eliquis may increase your bleeding risk
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if you take certain medicines. tell your doctor about all planned medical or dental procedures. i've got three important reasons to up my game with eliquis. [ male announcer ] ask your doctor today if eliquis is right for you. try align. it's the number one ge recommended probiotic that helps maintain digestive balance. ♪ stay in the groove with align. adam: hello again, everyone. i'm adam shapiro. lori: i am lori rothman. listinmissing a session highs te major indices including the dow jones industrial. there you go 16,000 on your screen right now. investors reacting to stronger-than-expected job growth last month. the dow on track the biggest intraday gain in a month. the jobs report mean we are going to see the fed pullback the stimulus?
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adam: snow, sleet and ice. a winter storm sweeping across the country causing traffic trouble on the street and in the skies. we are tracking the path from the fox weather center. cheryl: scrambling the egg industry. wanting people to rethink the incredible edible egg. we are interested with the cofounder coming up. adam: and better-than-expected jobs report. a lot of people saying it was a terrific jobs report. but the floor of the new york stock exchange, find out what the dow and s&p are looking at doing on the five-day losing streak. nicole: it was a good jobs report, jobs were added. the labor participation rate improving some. it could be going the right direction, that obviously is good news for americans who need jobs and we want jobs if they want them. dow jones industrials up 180 points resting

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